Originally posted by: DigDug
Underrated: liberal arts
What you learn from this course of study is how to think, critically analyze and write very well. All three are severely lacking in many college graduates because they've spent their college careers memorizing equations or filling out ditto sheets. I had to write about 3 (usually more) papers per class, per semester, every semester throughout school. I learned how to think about what I was taught and to organize and articulate my thoughts for others. You don't get that working on a calculate day-in and day-out.
That's how those liberal arts majors want to justify it. With your talk about calculations and equations, I'm assuming you're referring to engineering. Thinking engineering is just "memorizing equations" or " calculating day-in and day-out" is exactly why liberal arts majors wonder why the hell engineers get paid $50k per year out of college and liberal art majors are getting coffee for their engineering-educated bosses.
I don't doubt liberal arts majors are probably better novel writers; but in business, you want to communicate only the facts, get to the point, and keep it short. By training, liberal arts major are taught to fluff up their essays with colorful metaphors while engineers are taught to keep it very objective and factual. Secondly, engineering is pretty much all analytical and critical thinking. Even the freshmen physics class is far beyond plugging and chugging (i.e. memorizing equations). No engineers here will tell you memorizing equations got them through 4-5, sometimes 6 years of grueling work.
(I realize I didn't keep this post short myself...)
So to answer the original poster:
Underestimated: engineering (as evident by the graduating class being only 1/4th of the entering freshmen class)
Overrated: liberal arts